Joseph Sigelman, who served as a former co-CEO of PetroTiger Ltd., is the latest FCPA defendant to argue that employees of state-owned enterprises aren't "foreign officials" under the FCPA.
This is the fifth post in our series about IKEA’s charitable contributions in Russia in the 1990s and early 2000s. Today we’re looking at an event that at first glance doesn’t even appear to be a donation.
Job Title: Compliance Officer
Job ID: 047423
Employer: Credit Suisse
Location, New York, NY
Leslie Caldwell, the chief of the DOJ's criminal division, does well at explaining why enforcing the FCPA and fighting corruption is a priority for the United States. Here's part of what she said Wednesday at ACI's 31st international conference on the FCPA at National Harbor, Maryland:
Foshan Shengbang Medicine Co Ltd and Foshan Shengbang Medical Equipment Co Ltd have been fined $49,000 each for bribing medical officials to win supply contracts. Qi Yaofang, former head of the Foshan Food and Drug Administration, is being investigated for taking $18,000 in bribes from the two companies. http://politics.caijing.com.cn
In this series, we’re looking at IKEA’s charitable contributions in Russia during its expansion there in the 1990s and early 2000s. In Parts Two and Three, I presented quotes from the memoir of the former CEO of IKEA Russia, Lennart Dahlgren. He describes with apparent candor why some of the charitable contributions were made and the impact they had on IKEA’s business. We continue the analysis here, reviewing an episode related to IKEA’s attempt to open a shopping mall, MEGA.
Civil asset recovery actions against kleptocrats stashing their loot in luxury real estate abroad has become a hot new topic in the global anti-corruption movements with the publication of Public Wrongs, Private Actions. This handy guide empowers developing nations with realistic tools to hunt down the stolen assets secreted abroad. Civil lawsuits, unlike criminal cases, do not normally require dual criminality and are therefore often the best and only possible remedy.
Last week, the UK’s Fianncial Conduct Authority published thematic financial crime risk reviews into 21 small banks and ten commercial insurance intermediaries. It also commenced a consultation exercise on its proposed guidance on financial crime systems and controls.
Authorities raiding two entertainment venues in Thailand's capital said they found a list of police officers who allegedly took bribes to ignore license violations and illegal sex services.